Romania: Industrial output rises in May
July 10, 2012
In May, industrial output rose 2.7% over the same month last year, which was above the flat reading observed in April and marked, in fact, the highest increase in the last six months. The reading reflected strong manufacturing and energy production, which overcompensated for a contraction in the mining and quarrying sector. Compared to the previous month, industrial production contracted 0.6% in seasonally and working-day adjusted terms, which contrasted the 0.8% expansion recorded in April. Annual average growth dropped from a 2.6% increase in April to a 2.2% expansion in May, the slowest pace since May 2010.